BNM GUIDELINES

As guided by Bank Negara Malaysia (BNM)’s policy on Credit Cards, principal cardholders are restricted to:

1. Principal cardholders must be at least 21 years old with a minimum annual income of RM24,000.

2. Principal cardholders earning RM36,000 per annum or less are restricted to:

   1. Only holding credit cards from a maximum of two credit card issuers

   2. Having a maximum credit limit of two times their monthly income per credit card issuer

You are receiving this credit limit revision notification due to your annual income on-file with UOB is RM36,000 or less per annum. This has resulted in a reduction to your credit limit which has been revised to 2 times of your monthly income, as per BNM's requirement. UOB will not be able to reinstate or revise your credit limit if your income remains below RM36,000 or less per annum.

However, if your actual income is more than RM36,000 per annum, kindly submit a Permanent Limit Increase application with your latest income documents. By submitting a Permanent Limit Increase application, we will access your credit profile based on your latest income document(s) and assign your card with a suitable and affordable credit limit accordingly, subject to bank's review and approval.

We will reassess your credit profile once we receive the Permanent Limit Increase application from you. Please refer to the following steps for a detailed view on how you can submit the Permanent Limit Increase application along with an acceptable income document to us. You are required to only submit one type of income document as specified in the below table. 

Step 1:
Download and fill in the Permanent Limit Increase application form
https://www.uob.com.my/web-resources/personal/pdf/personal/cards/credit-card-features/permanent-credit-increase-form.pdf

Step 2:
Submit the completed and signed forms together with your latest income document via email to UOB Malaysia at uobcustomerservice@UOB.com.my

Step 3:
Please refer below income document guide based on your employment type. 

Note: Non-computerized (hand written) income document will be rejected.

Yes. You are encouraged to update your income at any point in time by submitting a Permanent Limit Increase application with your latest income documents. Please take note that your Permanent Limit Increase application is subject to bank's approval.

Please refer to the steps outlined in Q3 for a detailed view on how you can submit the Permanent Limit Increase application along with an and acceptable of the accepted income document to us.

We will assess your credit profile based on the Permanent Limit Increase application. Upon validation by the bank, your employment details and income records will be updated accordingly. Your credit limit will be as follows:

1. In the event where your actual annual income is RM 36,000 or less per annum, your current credit limit will be revised to 2 times of your monthly income with a notification sent to you in advance.

2. In the event where your actual annual income is above RM 36,000 per annum, the requirements of the BNM guidelines will not impact you. Subject to bank's approval, your credit limit will be assessed and revised based on the Permanent Limit Increase application and latest income documents that you have provided.

Having your income records updated will ensure that the appropriate and deserving credit limit is assigned. In the event that you do not submit a Permanent Limit Increase application with latest income document(s) to us, your credit limit will be revised to 2 times of your monthly income if you earn RM36,000 or less per annum. Additionally, your credit card(s) will be closed/blocked if your current annual income on-file with UOB is lesser than RM24,000 per annum. As such, you will not be able to enjoy the credit card facility or credit limit you deserve.

Existing cardholders who earn more than RM36,000 per annum will not be affected by the 'Guidelines' where your credit limit remains unchanged. However, cardholders with an updated income of RM36,000 or less per annum will have their credit limits decreased into 2 times of their monthly income if the existing limit exceeds two times (2x) their monthly income.

Therefore, it is important for customers to ensure that their income records with UOB are up to date.

New credit card applicants must now have a minimum annual income of RM24,000 per annum. Also, applicants who earn RM36,000 or less per annum and already hold credit cards from two credit card issuers, are not eligible to apply for credit cards from UOB nor another credit card issuer.

Your credit card(s) was closed/ blocked and not eligible for reinstatement because your updated income is below RM24,000 per annum. This is against Bank Negara Malaysia (BNM)’s policy on Credit Cards Guideline where a principal cardholders must have a minimum annual income of RM24,000. Although your card is blocked, you will still be able to pay down your outstanding balances on your card (including instalment balances). Please remit payment on time to avoid any late fee and finance charges.

You are advised to redeem your UNIRinggit balance within 10 days from the notification date before we close your credit card. For avoidance of doubt, any unredeemed UNIRinggit after the 10th day from the day of the notification will no longer be valid for any redemption offer at any channel. Please refer steps and guidance to redeem UNIRinggit at www.uob.com.my/personal/cards/rewardsplus/index.page

If you have any existing/on-going active instalment plans under your UOB credit card(s) account, the instalment interest rate, tenure and monthly repayment amount of your existing instalment plan shall remain unchanged. Please continue to remit payment as usual until the loan maturity date. 

Should you require financial service on your closed/ blocked account, you may seek the services of Agensi Kaunseling dan Pengurusan Kredit (AKPK), an agency established by Bank Negara Malaysia (BNM) that provides free services on money management credit counseling, financial education and debt restructuring for individuals.